31st Dec 2020 13:44
(Alliance News) - Nu-Oil & Gas PLC on Thursday said it has taken steps to recover costs following the termination of the proposed reverse takeover of a European plastics recycling and reprocessing business that it had announced in April.
The AIM cash shell said the proposed acquisition was to create a potentially enlarged company that would act as a consolidation vehicle in the sector.
Nu-Oil & Gas currently is in talks with various stakeholders for an alternative reverse takeover. It said the board would provide an update on this "as soon it is in a position to do so".
Shares in Nu-Oil & Gas are suspended from trading in London.
By Zoe Wickens; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
ENEG.L